Carbonite Taps Webroot Execs For COO, CTO, Chief Product Officer Posts
Carbonite has brought top Webroot leaders John Post, Chad Bacher and Hal Lonas into its C-suite to drive the integration process, product strategy and technology vision, respectively, for the combined company.
Carbonite said Wednesday that it has brought three of Webroot's top leaders into its C-suite to drive the integration process, product strategy and technology vision for the combined company.
The Boston-based data protection vendor has asked longtime Webroot CFO John Post to lead the integration of the two companies as Carbonite's chief operating officer. Carbonite closed its $621.7 million acquisition of Broomfield, Colo.-based cybersecurity vendor Webroot on March 26.
In addition, Carbonite has tapped Webroot Senior Vice President of Product Strategy and Technology Alliances Chad Bacher to serve as the company's chief product officer, where he will oversee all aspects of the product organization. And Webroot Chief Technology Officer Hal Lonas will become CTO for the combined company, where he will oversee the engineering organization driving the technology vision and strategy.
[Related: Carbonite After Mohamad Ali: Firm Searches For New CEO While Absorbing Webroot]
"I've taken the time to get to know these leaders and their respective teams, and I am confident that this is the right group of executives to move the company forward," Carbonite interim CEO Steve Munford said in a statement. "I believe we have the right mix of experience, innovation and drive to achieve our financial commitment and deliver value for all of our stakeholders."
Carbonite's stock is up 40 cents, or 3.28 percent, to $12.61 in trading Wednesday morning. The company didn't immediately respond to a request for additional comment.
Munford joined Carbonite's board of directors in 2014 and has served as interim CEO since July 25 when Mohamad Ali stepped down as Carbonite's top executive to take the CEO role at IDG. Longtime Carbonite Chief Financial Officer Anthony Folger will remain in the CFO role of the combined company, while former Citrix partner sales leader Craig Stilwell joined Carbonite in the new chief revenue officer role in July.
Post's initial role at Carbonite was as senior vice president and general manager of Webroot, where he was responsible for driving all aspects of the Webroot business while working to integrate with Carbonite. In his new COO role, Post will be responsible for ensuring the combined culture, process, systems and alignment are in place to drive Carbonite's growth strategy.
According to a filing with the U.S. Securities and Exchange Commision Wednesday, Carbonite has increased Post's annual salary to $360,000 following his promotion to COO and provided him with $500,000 of restricted stock units vesting over two years as well as $500,000 of performance-based restricted stock units that will vest in whole or in part based on Carbonite's relative shareholder return. Post will also be eligible for an incentive bonus equal to 65 percent of his base salary.
Bacher started as Webroot's senior vice president of product strategy and technology alliances in January 2016 to help create the original next-generation endpoint security offering, and assumed the same role at Carbonite in March when the deal closed. In his role as chief product officer, Bacher will be focused on product strategy and developing tools that fit the needs of customers today and well into the future.
Bacher will have his base salary remain at $300,000 and receive $250,000 of restricted stock units vesting over two years as well as $300,000 of performance-based restricted stock units that will vest in whole or in part based on Carbonite's relative shareholder return, according to the SEC filing. Bacher will also be eligible for an incentive bonus equal to 50 percent of his base salary.
Lonas, meanwhile, had served as Webroot's chief technology officer since May 2014, where he led the creation of the first cloud-native security platform and innovated in the machine-learning and automation spaces. As CTO of the combined organization, Lonas will drive the vision and strategy for technology at Webroot and ensure that all technological resources are aligned with business needs.
Lonas will have his base salary remain at $300,000 and receive $250,000 of restricted stock units vesting over two years as well as $300,000 of performance-based restricted stock units that will vest in whole or in part based on Carbonite's relative shareholder return, according to the SEC filing. In addition, Lonas will be eligible for an incentive bonus equal to 50 percent of his base salary.